Market Talk: FXWW

From the FXWW Chatroom: BNP: SNB President Jordan is speaking at 17:00 London time in Zurich about how central banks influence the money supply.

The SNB are priced to tighten by 25bp by March-19, although rhetoric continues to suggest they are not considering rate hikes at present and view the currency as still overvalued.

We maintain a bearish CHF view. With eurozone political risk premium declining (from already low levels) and the possibility that market pricing for the ECB continues to shift in a more hawkish direction, we think risk-reward is still attractive for EURCHF long exposure.

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